Commercial Real Estate Market in Lincoln, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
29 active listings and 586 off-market properties in Lincoln, IL.
Market Trends
Lincoln, IL spans 142.8 square miles in Logan County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lincoln, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Lincoln, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lincoln, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Lincoln, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 51.6%
- Industrial 22.4%
- Commercial 18.7%
- Planned_development 7.3%
Largest Zones share of zoned land by district
Multifamily Residential District
Service Retail
Light Industrial
Residential Planned Unit Development
Heavy Industrial
Lincoln, IL zones 4,095 acres across 7 districts. Commercial zoning covers 18.7% of zoned land, residential 51.6% and industrial 22.4%. The largest single district is Multifamily Residential District at 45.8%. For commercial buyers the practical constraint is that only 41.1% of land carries a commercial or industrial designation.
Multifamily Residential District (R-2)
R-2 residence district. Daycare homes and foster family homes. Existing railroad rights of way, providing that there is no switching, storage, freight yards or sidings. Home occupations as defined in Section 11-2-1 of this title. Municipal, state or federal administrative or service buildings, and hospitals, where the principal building is located at least 2…
Market overview
Demographics & Economy
Lincoln, IL has 18,634 residents in 7,569 households. Density runs 130 people per square mile. Median household income here is $59,129 and median gross rent $807 a month.
18,634
Population
7,569
Households
2.5
Avg Household Size
41
Median Age
18%
College-Educated
90%
High-School Grad
142.8 sq mi
ZIP Area
130
Density / Sq Mi
$59,129
Median Household Income
$32,170
Median Earnings
$807
Median Rent
$128,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lawndale | — | — |
| Broadwell | — | — |
| Hartsburg | — | — |
| Beason | — | — |
Commercial property in Lincoln, IL asks $127/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lincoln?
Commercial property in Lincoln, IL asks an average of $127 per square foot.
What zoning applies to commercial property in Lincoln?
Lincoln, IL zones 4,095 acres across 7 districts, of which 18.7% is commercial and 22.4% industrial. The largest single district is Multifamily Residential District at 45.8% of zoned land. R-2 residence district. Daycare homes and foster family homes. Existing railroad rights of way, providing that there is no switching, storage, freight yards or sidings. Home occupations as defined in Section 11-2-1 of this title. Municipal, state or federal administrative or service buildings, and hospitals, where the principal building is located at least 2… Residential zoning covers 51.6% and open space 0%.
Where does Realmo's Lincoln market data come from?
Realmo compiles Lincoln, IL figures from 8 recent recorded sales, 27 active sale listings, 2 active lease listings, 586 tracked off-market properties, the current Lincoln zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 27 active for-sale and 2 active for-lease listings in Lincoln, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 4,095 zoned acres across 7 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
